Tidal Investments LLC Makes New $2.66 Million Investment in FedEx Freight Hldg Co $FDXF

Key Points

• Tidal Investments initiated a $2.66 million position in FedEx Freight, purchasing 17,601 shares during the second quarter.
• Several other institutional investors also established stakes, led by Maple Rock Capital Partners with an investment of approximately $68.2 million.
• FDXF opened at $127.01, well below its $194.27 one-year high, while analysts maintain a “Moderate Buy” consensus with an average price target of $172.67.

Tidal Investments LLC bought a new stake in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,601 shares of the company's stock, valued at approximately $2,658,000.

A number of other large investors also recently made changes to their positions in FDXF. Maple Rock Capital Partners Inc. acquired a new stake in shares of FedEx Freight during the second quarter worth approximately $68,207,000. Allianz Asset Management GmbH acquired a new position in FedEx Freight in the 2nd quarter valued at approximately $50,888,000. National Pension Service acquired a new position in FedEx Freight in the 2nd quarter valued at approximately $26,648,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in FedEx Freight in the 2nd quarter worth approximately $19,666,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in FedEx Freight in the 2nd quarter worth approximately $10,838,000.

FedEx Freight Price Performance

FDXF stock opened at $127.01 on Wednesday. FedEx Freight Hldg Co has a 1 year low of $122.43 and a 1 year high of $194.27. The firm has a fifty day simple moving average of $140.16.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. Equities analysts forecast that FedEx Freight Hldg Co will post 4.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

FDXF has been the topic of several research analyst reports. JPMorgan Chase & Co. started coverage on shares of FedEx Freight in a report on Tuesday, September 8th. They set an "overweight" rating and a $160.00 price target on the stock. Wall Street Zen upgraded FedEx Freight to a "hold" rating in a report on Saturday, June 6th. Citizens Jmp assumed coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $190.00 target price on the stock. Weiss Ratings raised FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, September 8th. Finally, Stephens initiated coverage on FedEx Freight in a research note on Wednesday, July 8th. They set an "overweight" rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $172.67.

About FedEx Freight

FedEx Freight is a less-than-truckload (LTL) transportation company that provides freight shipping services for businesses across North America. Its network transports palletized and other consolidated shipments that do not require a full truckload, serving manufacturers, wholesalers, retailers, distributors and other commercial customers.

The company offers a range of freight solutions, including standard and time-definite LTL delivery, expedited transportation, volume and consolidated freight services, and specialized options for residential or appointment-based deliveries.

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